Back to top

PG&E Corporation (PCG) Misses on Q4 Earnings Estimate

Read MoreHide Full Article

PG&E Corporation (PCG - Free Report) , a diversified utility holding company, engages in the business of electricity and natural gas distribution; electricity generation, procurement, and transmission; and natural gas procurement, transportation and storage.

Stable financial position, steady growth in customer counts, a well-set of utility assets and disciplined investments in infrastructure projects will likely boost PG&E Corp.’s future performance In addition, the company’s practice of paying dividend is commendable.

However, penalties levied for the San Bruno and Carmel incidents, stringent environmental regulations and several operational risks remain potential setbacks.

Estimate Trend & Surprise History

Investors should note that the fourth quarter Zacks Consensus Estimate for earnings of 69 cents per share remained unchanged in the last 7 days.

Coming to the earnings surprise history, PG&E Corporation has surpassed the Zacks Consensus Estimate in the last four quarters, resulting in a positive average surprise of 14.71%.

Zacks Rank: Currently, PG&E Corporation has a Zacks Rank #3 (Hold) but that could change following its fourth quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

We have mentioned below some of the vital information from this just-revealed announcement:

Earnings: PG&E Corporation’s earnings were below our earnings estimates. Adjusted earnings per share came in at 63 cents per share, which missed the Zacks Consensus Estimate of 69 cents per share by 8.7%.

Key Stats: Per management, the company’s financial performance reflected its focus on safely and reliably providing clean and affordable service, and making critical investments in a sustainable energy future for its customers.

Stock Price: In the pre-market trading session, PG&E Corporation’s shares lost 4.2% that reflects investors’ dissatisfaction toward the fourth quarter results. Yet, it would be interesting to see how the market reacts to the earnings release during the trading session today.

Check back later for our full write up on this PCG earnings report later!

 

The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>




In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Pacific Gas & Electric Co. (PCG) - free report >>

More from Zacks Tale of the Tape

You May Like